hansadwani

Thank you for the reply. If the individual is a minority shareholder but not a director and they provide consultancy for the limited company on a ad hoc basis, my understanding is this can be invoiced and declared on their self assessment tax return as self employed income?

I own a limited company with 3 employees. As a director and majority shareholder of this company, I was wondering whether it would be acceptable to withdraw money from the limited company and declare on my self assessment tax return as self employed income, as oppose to taking a salary and dividend. Via self assessment, I would pay the correct income tax and NI. The idea behind this is that as well as owning the limited company, I plan provide consultancy services on a self employed basis and I would be charging a day rate to the limited company for my time, as I would to other companies.